Industry Voices
 
The Budget provides impetus to the sectors of agriculture and rural economy with many significant measures which will add to overall consumption and demand and boost growth. The support to MSME sector through lowering of corporate tax rate to 25%, increase in access to finance, and addressing non-performing assets would help alleviate the stress in the sector. As in previous Budgets, the Finance Minister has introduced some innovative steps which will add comfort to citizens and strengthen key growth drivers.   
Ms Shobana KamineniPresident CII, 2017 - 18

CII is of the firm belief that the current blip in growth rates is temporary and we are confident of a strong recovery by fiscal year end as industry gets over the teething problems of GST and other positive measures take effect. New investments will also start early next year as capacities fill up.
Ms Shobana KamineniPresident CII, 2017 - 18

ASEAN countries with India can yield numerous benefits. For example, larger markets can bring about economies of scale in production and enhance competitiveness. Integration of markets can facilitate the movement of production networks and attract more foreign direct investment along with the benefits of knowledge and technology transfer and opportunities to connect to regional and global supply chains.
Shobana KamineniPresident CII, 2017 - 18

Construction industry remains  the fundamental strength of the economy with important multiplier impact. Under the Make in India matrix, construction machinery as a key component of the capital goods sector contributes to India’s manufacturing prowess and is set to witness strong expansion. 
Shobana KamineniPresident CII, 2017 - 18

Hon’ble Prime Minister Shri Narendra Modi has carried out a carefully strategized ministerial reshuffle, aimed at imparting fresh impetus to India’s development process. The elevation of new Cabinet ministers and induction of new ministers with independent charge in crucial infrastructure sectors is designed towards implementation and achievement of key targets. Overall, the direction of the reshuffle inspires confidence that the path of reforms, ease of doing business and timely implementation will continue to be top priority. This is vital at time when the GDP growth has been flagging. 
Ms Shobana KamineniPresident, CII

The Prime Minister has outlined a vision of a secure, prosperous and capable nation by 2022, driven by the collective power of 125 crore citizens of India. CII's India@75 campaign launched in 2008 is in line with Prime Minister's objectives and emphasizes crowd-sourcing of ideas and spread of volunteerism to build a developed India. Indian industry pledges to continue our partnership for a New India as we complete 75 years as a free nation.   The Government has taken multiple steps to address corruption and black money which are delivering notable results. CII believes that reforms such as GST and ease of doing business will further contribute to formalisation of the economy and widening the tax net, and we look forward to a more transparent and efficient economy by 2022. 
Ms Shobana KamineniPresident CII 2017-18

We have emerged today into a new era of economic reform – with the introduction of the game-changing GST. This will stand as an exemplar of collaborative reform for the world on an unprecedented scale.  The Finance Minister and other members of the GST Council brought together all stakeholders for implementing this transformational new policy, and CII lauds their spirit of cooperation.  GST imparts significant competitiveness to Indian industry, thereby boosting the inherent potential of the economy to raise incomes, add to the formal economy and incentivise exports . GST also helps expand the tax net. Above all, it gives us tremendous confidence that the Government will continue to facilitate investments and simplify the business environment. CII and Indian industry is committed to ensuring the success of GST for boosting India's growth and development.
Shobana KamineniPresident CII, 2017-18

With tremendous opportunities available in the Indian economy, further strengthening of the growth process and job creation is on the horizon. One of the key priorities for CII this year would be to help revive domestic investment, which has been flagging and the economy has been growing largely on the back of exceptionally high government spending on infrastructure, etc. Industry is completely ready for the introduction of the landmark tax reform from July 1, 2017. CII has been calling for a single national tax for the last ten years and we will try to make its implementation as smooth as possible. 
Shobana KamineniPresident CII 2017-18

India and Africa are the “most dynamic geographies” of the world. CII is deeply committed toward establishing and reinforcing long-term India-Africa partnerships in diverse sectors. CII has an office in Cairo and will be setting up its second office in Africa in Johannesburg.
Dr Naushad ForbesPresident CII, 2016-17

Services have emerged as an engine of growth for the Indian economy as it contributed two-thirds of our GVA, half of our employment and a fifth of our exports. The three priority areas viz tourism, healthcare and education has the potential to grow manifolds and are important for promoting inclusive growth in the country.
Dr Naushad ForbesPresident CII, 2016-17

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